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WRONG! We are experiencing all this mess because of bailing those Zoombie Corporations out back in 2008, and NOT doing the RIGHT THING
Tell me specially what the bailouts did that is still lingering today.
Quote:
. Had we done the right thing back in 2008 (let Zoombie Corporations and failed businesses fail back then), far few business would be failing now........far few people would be failing and loosing money now.
Wake Up!
Good Luck
Your idea that let companies fail would have led to a better outcome today is simply conjecture at best, at worst just wild speculation
The middle class work at those plants, and hundreds of other smaller companies in the supply chain. Do you really believe it's a good idea to close those plants and see millions out of work? People work to lift THEMSELVES out of poverty. Do you really believe adding millions to the unemployment rolls is a good way "lift" people??
Don't you see their scam? They take the money - and they MOVE THE PLANT TO MEXICO - or someplace. It's a scam.
How about PAYING OFF STUDENT LOAN DEBT and making STATE COLLEGES AFFORDABLE or free - yes, payed by taxes. They will be the "next middle class" will buy homes, travel, buy furniture, appliances, automobiles etc.The RICH do not spend money. They HOARD IT.
Don't you see their scam? They take the money - and they MOVE THE PLANT TO MEXICO - or someplace. It's a scam.
How about PAYING OFF STUDENT LOAN DEBT and making STATE COLLEGES AFFORDABLE or free - yes, payed by taxes. They will be the "next middle class" will buy homes, travel, buy furniture, appliances, automobiles etc.The RICH do not spend money. They HOARD IT.
I am tired of subsidizing the ultra rich.
Paying off student loan debt is a very lagging economic effort
1) Keep people from starving
2) Keep people from losing their house 'cause they can't pay their mortgage without a job (ditto for renters)
3) Keep otherwise healthy businesses alive so they can bounce back & rehire employees when it is time.
Tell me Lowexpectations......In the “free” market, shouldn’t companies stand or fail on their own?
Our laws offer bankruptcy protection. Certain chapters of bankruptcy allow companies time to restructure in an orderly process.
The auto industry would have been allowed to restructure in normal times, but those were not normal times. The credit markets were shot. So the government came in as a lender of last resort to allow an orderly transition for an industry that was the backbone of this country. GM as a company has done terrific things for America and the world. It was a central contributor in the biggest conflict in human history where our strongest allies were faced with a crisis for their existence.
Don't you see their scam? They take the money - and they MOVE THE PLANT TO MEXICO - or someplace. It's a scam.
How about PAYING OFF STUDENT LOAN DEBT and making STATE COLLEGES AFFORDABLE or free - yes, payed by taxes. They will be the "next middle class" will buy homes, travel, buy furniture, appliances, automobiles etc.The RICH do not spend money. They HOARD IT.
I am tired of subsidizing the ultra rich.
The rich don’t horde money. They invest it. Invested money is deployed capital that is circulating in the economy in an attempt to create value.
You don’t subsidize the rich, and you have no clue what you’re talking about.
Chrysler restructured. Last I checked, you can still see the Chrysler symbol on i75 in auburn hills. A city of 20,000 people has 80,000 workers flow in each day because of Chrysler and the OEMs there.
Maybe you should look at who writes the paychecks. You can buy Motorola cell phones, but Motorola died 20 years ago. GM restructured. Chrysler went bankrupt and was sold off wholesale. It's now owned and operated by Fiat. The world did not end.
No market is truly free so you are setting up a false scenario. Why didn’t you attempt to respond to the following?
Only someone with agenda like you would answer it this way. So you don't believe in free markets and Capitalism? You are the Bailout Guy.
Government bailouts create a MORAL HAZARD problem. Zoombie companies can take bigger risks if they assume that a bailout will be available if needed. Creditors also need to learn their lesson and take a hit. It would send a signal that counter-parties need to monitor risk as well and remove the credit-rate advantage of big to fail companies.
Today EVERYONE is asking for a bailout......Airlines, Hotels, Casinos, Restaurants, Cruise Industry,......even Hospitality Worker Unions........everyone wants to be bailed out. Don't you see that it was WRONG to do this back in 2008??? It created a MORAL HAZARD that is still lingering today.
If a bailout money is a good thing for all those industries as part of a government helping its citizens, so why is there no free at the point of use healthcare system in the US ? It’s every bit as affordable as any bailout .
Good Luck!
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